Thursday, August 19, 2010

Citibank Technical Analysis

Citigroup ST: the upside prevails

Our pivot point stands at 3.7.
Our preference: As long as 3.7 is not broken down, we favour an upmove with 4.4 and then 5.05 as next targets.
Alternative scenario: Only the downside breakout of 3.7 will invalidate our bullish scenario. In this case, a decline should shape towards 3.35 at first, and then 3.12.
Comment: Daily indicators are positive but losing momentum.
Trend: ST limited rise; MT range.
Supports and resistances:
5.45 ***
5.05 ***
4.4 **
3.87 last
3.7 ***
3.35 ***
3.12 ***